GW&K Investment Management LLC Decreases Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

GW&K Investment Management LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,998 shares of the bank's stock after selling 3,666 shares during the quarter. GW&K Investment Management LLC owned approximately 0.56% of Texas Capital Bancshares worth $19,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TCBI. Norges Bank bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $42,050,000. Azora Capital LP bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth $25,232,000. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares in the 1st quarter worth $16,938,000. Millennium Management LLC increased its holdings in shares of Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after buying an additional 145,393 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Texas Capital Bancshares by 22.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock worth $58,246,000 after buying an additional 138,734 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Trading Down 2.0%

Shares of NASDAQ:TCBI traded down $1.73 on Friday, hitting $84.71. The company had a trading volume of 232,677 shares, compared to its average volume of 498,920. The firm's 50-day simple moving average is $79.22 and its two-hundred day simple moving average is $75.98. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 0.81 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same period last year, the company posted $0.80 EPS. Equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TCBI. Hovde Group increased their price target on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Citigroup increased their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Raymond James Financial reduced their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Stephens reduced their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Texas Capital Bancshares currently has an average rating of "Hold" and an average target price of $83.50.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the transaction, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 19,800 shares of company stock worth $397,090. Company insiders own 1.72% of the company's stock.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.